Galmed jumps on promising new data on liver disease drug

Eocene

08/11/2021 12:53

** Shares of Israel-based drug developer  GLMD.O  jump 13.6%
to $3.18 premarket
    ** GLMD reports data from its ongoing late-stage study
testing its drug candidate, Aramchol, for the treatment of a
fatty liver disease called nonalcoholic steatohepatitis (NASH)
and liver fibrosis or scarring  urn:newsml:reuters.com:*:nPn79dZsZa
    ** Says data from first 20 patients show 60% fibrosis
improvement as early as 24 weeks
    ** Statistically significant reductions in biomarkers
associated with liver fibrosis was also observed in 50 patients
- co
    ** Also reports Q3 net loss widened to $7.7 mln from $6.9
mln last year on higher expenses
    ** Co had earlier this month reported data from 16 patients
showing fibrosis improvement in 50% of the patients (https://bit.ly/3bRjouv)
    ** GLMD had fallen nearly 10% YTD, up to the last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))